Thinkific Labs

Vancouver-based Thinkific significantly narrowed its losses in 2024, reporting a net loss of $200,000, down from $9.8 million the previous year. The online course platform achieved positive cash flow, increasing to $7 million from a $5.4 million loss in 2023.

Revenue from Thinkific’s commerce segment surged 73% in Q4, while Thinkific Plus grew 27%. CEO Greg Smith called 2024 a “pivotal year” as the company shifted to growth investments. However, CFO Corinne Hua warned of challenges in expanding gross merchandise value, which remained flat at $114.7 million. Thinkific continues to compete against Absorb and Coursera.

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Thinkific Labs has introduced a new Automatic Share Purchase Plan under its ongoing Normal Course Issuer Bid. This new plan replaces the existing one, allowing the Vancouver-based technology firm to repurchase its Subordinate Voting Shares during blackout periods or as instructed by the company.

The new plan, managed by Cormark Securities, is designed to streamline the company’s stock buybacks, with a maximum limit of 2.4 million shares, according to a statement from Thinkific. The plan is effective until November, unless terminated earlier. The Canadian company said it remains committed to transparency and compliance with market regulations.

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